Moonbirds, once seen as a cautionary tale in the NFT space, has experienced a resurgence. The project, launched by Kevin Rose’s Proof in 2022, faced significant backlash and a steep decline in value, dropping from double-digit ETH prices to below 1 ETH by mid-2023. However, it has regained attention following its acquisition by Orange Cap Games, a gaming startup. The new leadership is revitalizing the community and repositioning the brand, which led to an increase in the floor price from 0.29 ETH to over 3 ETH, reaching nearly $14,000 in USD. This turnaround has been attributed to not only strategic management but also a cultural shift, including the introduction of the term 'birb' as a part of community vernacular. The excitement surrounding Moonbirds echoes the rise of other NFT collections like CryptoPunks, which have also seen a resurgence in interest and value. Spencer Gordon-Sand, of Orange Cap, highlights a refreshing community engagement that focuses on genuine interest in technology, contrasting with a trend of fleeting investments in NFTs. As the market evolves, there are cautious sentiments about the sustainability of this renewed interest, urging a focus on building lasting value in the NFT space.

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